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Sebi proposes stricter rules on independent directors

The Securities and Exchange Board of India (SEBI) proposed that if listed companies in India wish to appoint or remove independent directors they should require the “dual approval” of shareholders and a majority of the company’s minority investors.

If either of the requirements are not met, a new person will not be appointed and existing independent directors can’t be removed, SEBI said in its proposal, which is open for public consultation until April 1.
Currently, only 51% shareholder approval is required for appointing or removing such directors in most cases, and no separate sign-off is needed from minority investors.

Rajeswari joins IRDA as member, Distribution

Meanwhile, the government has advertised for the post of member, Finance & Accounts,IRDAI as the incubment Pravin Kutumbe will be retiring on 12th March after completing his three-year term.

Subhash Chandra Khuntia, chairman, IRDAI, will completing his three-year term in May.

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